StockNews.com Upgrades Columbia Banking System (NASDAQ:COLB) to Hold

StockNews.com upgraded shares of Columbia Banking System (NASDAQ:COLB) from a sell rating to a hold rating in a report published on Wednesday.

COLB has been the topic of a number of other research reports. Piper Sandler reissued an overweight rating and issued a $27.00 target price on shares of Columbia Banking System in a report on Wednesday, June 5th. Truist Financial dropped their target price on Columbia Banking System from $29.00 to $28.00 and set a hold rating on the stock in a report on Friday, September 20th. Royal Bank of Canada boosted their target price on Columbia Banking System from $21.00 to $26.00 and gave the company a sector perform rating in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on Columbia Banking System from $22.00 to $26.00 and gave the company an equal weight rating in a report on Friday, July 26th. Finally, Barclays boosted their target price on Columbia Banking System from $21.00 to $24.00 and gave the company an equal weight rating in a report on Friday, July 26th. Eleven investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Columbia Banking System presently has a consensus rating of Hold and a consensus target price of $25.50.

Columbia Banking System Stock Down 0.0 %

COLB opened at $25.96 on Wednesday. The firm has a market cap of $5.44 billion, a price-to-earnings ratio of 11.14 and a beta of 0.64. Columbia Banking System has a 52 week low of $17.08 and a 52 week high of $28.11. The business’s 50 day moving average is $24.51 and its two-hundred day moving average is $21.11.

Columbia Banking System (NASDAQ:COLB) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $472.15 million for the quarter, compared to analyst estimates of $476.01 million. Columbia Banking System had a return on equity of 10.89% and a net margin of 15.94%. The firm’s revenue was down 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.81 earnings per share. Equities analysts expect that Columbia Banking System will post 2.55 EPS for the current fiscal year.

Columbia Banking System Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 9th. Shareholders of record on Friday, August 23rd were given a dividend of $0.36 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.44 dividend on an annualized basis and a yield of 5.55%. Columbia Banking System’s payout ratio is 61.80%.

Institutional Trading of Columbia Banking System

A number of institutional investors have recently bought and sold shares of COLB. Corient Private Wealth LLC purchased a new stake in Columbia Banking System during the fourth quarter worth $963,000. Orion Portfolio Solutions LLC boosted its position in Columbia Banking System by 10.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 33,490 shares of the financial services provider’s stock worth $875,000 after purchasing an additional 3,211 shares in the last quarter. United Services Automobile Association boosted its position in Columbia Banking System by 11.3% during the fourth quarter. United Services Automobile Association now owns 17,093 shares of the financial services provider’s stock worth $456,000 after purchasing an additional 1,734 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its position in Columbia Banking System by 75.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 13,327 shares of the financial services provider’s stock worth $356,000 after purchasing an additional 5,752 shares in the last quarter. Finally, TD Asset Management Inc boosted its position in Columbia Banking System by 1.6% during the fourth quarter. TD Asset Management Inc now owns 294,675 shares of the financial services provider’s stock worth $7,862,000 after purchasing an additional 4,661 shares in the last quarter. 92.53% of the stock is currently owned by hedge funds and other institutional investors.

Columbia Banking System Company Profile

Columbia Banking System, Inc operates as the holding company of Umpqua Bank that provides banking, private banking, mortgage, and other financial services in the United States. The company offers deposit products, including business, non-interest bearing checking, interest-bearing checking and savings, money market, and certificate of deposit accounts; and insured cash sweep and other investment sweep solutions.